SAN JOSE, Calif.--(BUSINESS WIRE)--International Payments Corporation (IPC), a privately held merchant services company, today announced it has appointed industry veteran, Ron Carter as President. Mr. Carter’s extensive experience in both operations and acquisitions will accelerate IPC’s recently announced $150 million strategic plan to acquire Independent Sales Organizations (ISOs) and merchant credit card portfolios.
“IPC is in a unique position to grow in today’s challenging market due to its favorable cash position and the exceptional scalability of its account management and sales operations,” says Carter. “The company is able to quickly integrate newly acquired business units and strengthen these acquisitions by implementing proprietary technologies and sales techniques that it has developed.”
“Mr. Carter brings a very powerful combination of hands-on operations knowledge and acquisition experience to our company,” says David McMackin, the former President of IPC who will remain as Chief Executive Officer and Chairman of the Board. “He has led some of our industry’s most successful companies, where he has performed numerous acquisitions, significantly streamlined operations, and increased the bottom-line.”
Mr. Carter served as President and COO of Verus Financial Management, where under his leadership the company’s revenues grew from zero to approximately $30 million in EBITDA before it was sold in a $325 million transaction to Sage Payment Solutions. At Vital Processing Services, then a partnership between TSYS (NYSE: TSS) and Visa (NYSE:V), Mr. Carter served as Executive Vice President. Carter served as President of Network Systems at Alliance Data (NYSE:ADS), where he led the acquisition and integration of Sears Payment Systems (SPS) and Harmonic Systems. These acquisitions and others were part of strategy implemented just prior to the IPO of Alliance Data. Prior to ADS, Mr. Carter was the President of Buypass Corporation, now a wholly-owned subsidiary of First Data Corporation (FDC). (Editor's Note: He also ran the Merchant Services division of Pay By Touch)
International Payments Corporation (IPC) is a national merchant services company that delivers secure, scalable and reliable payment processing solutions to small- and middle-market businesses, large corporations, governments, financial institutions, and independent sales organizations. IPC processes electronic payments between buyers and sellers, utilizing virtually any payment device or form of electronic payment, including credit and debit cards, checks, and gift cards. For more information, visit www.intlpay.com.
